There can be little doubt that this is a time of dramatic change in the American system of higher education. The cumulative impact of a challenged economic model, public skepticism about educational value, changing demographics, and powerful new technologies, will inevitably transform our system in ways that remain unforeseen. In the midst of this perfect storm, liberal arts colleges must build on their long record of innovation and accomplishment to lead the way in undergraduate education. The crucial challenge for us all is to embrace the changes that can help us to be better while maintaining those practices and traditions that define who we are. This is a time of special opportunity.